FAO also lowered its forecast for world cereal production in 2020 by 25 million tonnes from a July projection, due largely to expectations of a lower maize output in the United States of America, the U.N . food agency said in its latest monthly report.
However, despite this reduction, such an outcome would still represent an all-time high, amounting to 58 million tonnes above the 2019 output, the Food and Agriculture Organization said.
Record maize harvests are forecast for Argentina and Brazil, while global sorghum production is expected to grow by 6 percent from the previous year. Worldwide rice production in 2020 is also expected to reach a new record of 509 million tonnes.
FAO’s new forecast for world cereal utilisation in 2020/21 stands at 2 764 million tonnes, up 2.0 percent on an annualised basis
Global cereal stocks are projected to rise by 1.7 percent to 895.5 million tonnes by close of the 2021 seasons, translating to a world cereal stocks-to-use ratio of 31.8 percent, slightly down from July but still relatively high from a historical perspective.
Buoyed by expected larger shipments of rice and coarse grains, world trade in cereals in 2020/21 is now pegged at 441.4 million tonnes, 1.6 percent above the 2019/20 level.
For more details read | Cereal Supply and Demand Brief